HDFC Bank: Jefferies sees 21% upside after Q2 results; key factors to watch
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓HDFC Bank reported a September-quarter profit of Rs 19,500 crore, up 5% year-on-year.
- ✓Jefferies kept a 'Buy' rating with a target price of Rs 880, seeing 21% upside.
- ✓The report noted, "Core NIMs hold-up better; reallocation of assets to aid NIMs." Investors now watch retail deposit growth and lending shifts.
Story at a Glance
- Category
- MARKET
- Reported By
- Financial Express
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
HDFC Bank's September-quarter results are now out, but the next question for investors is whether the bank can sustain its earnings growth and improve profitability in the coming quarters. While its profit and net interest income (NII) grew year-on-year, retail deposit growth remains a key area to watch.
Global investment bank Jefferies has retained its 'Buy' rating on HDFC Bank and set a target price of Rs 880 per share. This implies an upside potential of around 21% from the current market price.
According to the report, the bank's performance will depend on how it manages deposits, shifts its lending mix and improves margins under its incoming leadership.
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Financial Express
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